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6 days ago
- Business
- Yahoo
Should you use AI for your retirement plan? Expert weighs in.
Listen and subscribe to Decoding Retirement on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. Can artificial intelligence help you build a retirement plan and figure out how much to save or invest? The short answer is no, not yet, said Nick Holeman, director of financial planning at digital advisory company Betterment. "I would be cautious about using it for personalized financial advice right now," Holeman said in a recent episode of Decoding Retirement. "We're seeing a lot of traction with general financial education. In that case, it's a brilliant tool. It's really powerful. It can be really incredible. But using it for personalized financial advice, I don't think it's quite there yet." Holeman's caution is notable given that Betterment helped pioneer robo-advising. Founded in 2008 and launched in 2010, Betterment helped define the direct-to-consumer automated investing model that many firms later adopted. "We don't use AI for our financial advice currently," he said. "We're looking into it. We've seen a lot of promise, but it can act a little bit odd when you start to get into some really technical details." Read more: Retirement planning: A step-by-step guide AI "hallucinations" — confidently stated inaccuracies — are improving, he said, but they remain a concern. "Large language models weren't really built to do math," Holeman said. "We're seeing that get a little bit better as well, but still a little bit of concern there. So it's moving incredibly fast. I think we're not far away from it, but we're just not seeing that widespread adoption quite yet." Still, Holeman acknowledged that AI can be helpful for users who understand financial terms and prompt design. In other words, it can be empowering if you know the right questions to ask. "Prompt engineering is important, and it's worth exploring because many investors don't even know what to ask," he said. "Once you're dealing with terms like adjusted gross income or anything involving the IRS, it can get pretty complex." But he added that even savvy AI users and financial advisers would be wise to proceed with caution, especially given the potential tax changes on the horizon and the rapidly evolving political environment. In recent months, Holeman noted that Betterment advisers have witnessed increased client conversations about political uncertainty affecting investment decisions. "We are seeing an uptick in investors being nervous," Holeman said. "Our investors have been very well behaved with their retirement portfolio that we're not seeing mass panic or sellouts of their existing nest egg, but we are seeing them hold on to cash for a lot longer than usual." No matter how you proceed — with or without AI — Holeman encouraged people to "think like an engineer" when approaching financial decisions. Instead of defaulting to vague answers like "it depends," he urged people to identify clear inputs, calculations, and expected outcomes — an approach he said helps demystify and improve the consistency of financial advice. Got questions about retirement? Email Robert Powell at yfpodcast@ and we'll do our best to answer it in a future episode of Decoding Retirement. Each Tuesday, retirement expert and financial educator Robert Powell gives you the tools to plan for your future on Decoding Retirement. You can find more episodes on our video hub or watch on your preferred streaming service. Sign up for the Mind Your Money newsletter
Yahoo
7 days ago
- Business
- Yahoo
Should you use AI for your retirement plan? Expert weighs in.
Listen and subscribe to Decoding Retirement on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. Can artificial intelligence help you build a retirement plan and figure out how much to save or invest? The short answer is no, not yet, said Nick Holeman, director of financial planning at digital advisory company Betterment. "I would be cautious about using it for personalized financial advice right now," Holeman said in a recent episode of Decoding Retirement. "We're seeing a lot of traction with general financial education. In that case, it's a brilliant tool. It's really powerful. It can be really incredible. But using it for personalized financial advice, I don't think it's quite there yet." This embedded content is not available in your region. Holeman's caution is notable given that Betterment helped pioneer robo-advising. Founded in 2008 and launched in 2010, Betterment helped define the direct-to-consumer automated investing model that many firms later adopted. "We don't use AI for our financial advice currently," he said. "We're looking into it. We've seen a lot of promise, but it can act a little bit odd when you start to get into some really technical details." Read more: Retirement planning: A step-by-step guide AI "hallucinations" — confidently stated inaccuracies — are improving, he said, but they remain a concern. "Large language models weren't really built to do math," Holeman said. "We're seeing that get a little bit better as well, but still a little bit of concern there. So it's moving incredibly fast. I think we're not far away from it, but we're just not seeing that widespread adoption quite yet." Still, Holeman acknowledged that AI can be helpful for users who understand financial terms and prompt design. In other words, it can be empowering if you know the right questions to ask. "Prompt engineering is important, and it's worth exploring because many investors don't even know what to ask," he said. "Once you're dealing with terms like adjusted gross income or anything involving the IRS, it can get pretty complex." But he added that even savvy AI users and financial advisers would be wise to proceed with caution, especially given the potential tax changes on the horizon and the rapidly evolving political environment. In recent months, Holeman noted that Betterment advisers have witnessed increased client conversations about political uncertainty affecting investment decisions. "We are seeing an uptick in investors being nervous," Holeman said. "Our investors have been very well behaved with their retirement portfolio that we're not seeing mass panic or sellouts of their existing nest egg, but we are seeing them hold on to cash for a lot longer than usual." No matter how you proceed — with or without AI — Holeman encouraged people to "think like an engineer" when approaching financial decisions. Instead of defaulting to vague answers like "it depends," he urged people to identify clear inputs, calculations, and expected outcomes — an approach he said helps demystify and improve the consistency of financial advice. Got questions about retirement? Email Robert Powell at yfpodcast@ and we'll do our best to answer it in a future episode of Decoding Retirement. Each Tuesday, retirement expert and financial educator Robert Powell gives you the tools to plan for your future on Decoding Retirement. You can find more episodes on our video hub or watch on your preferred streaming service. Sign up for the Mind Your Money newsletter Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-06-2025
- Business
- Yahoo
The secret to a great retirement: Think like an engineer
Can AI really replace a skilled financial professional? In this episode of Decoding Retirement, Robert "Bob" Powell speaks with Nick Holeman, director of financial planning at Betterment, about why you might not want to ditch your adviser for a chatbot just yet. Nick also discusses how to utilize the Roth conversion window, how political uncertainty is affecting the market, and approaching your investments algorithmically to focus on goals, not just Finance's Decoding Retirement is hosted by Robert Powell. Find more episodes of Decoding Retirement at It's a brilliant tool. It's really powerful, it can be really incredible. If you are confident in your financial literacy and you know which questions to ask it, then I think it can really empower you, but if not, that's where I would be a little more cautious. Should you use AI for your retirement plan, whether you're living in retirement or planning for it? Well, here to talk with me about that and then some is Nick Coleman. He is the director of financial planning at Betterment. Nick, Bob, good to be here. Good to have you here. And I want to start with this question about artificial intelligence. Uh, a year ago, if you had asked me whether you should use AI for your retirement plan, I would have said absolutely not. But fast forward a year, and I'm beginning to think that it's getting closer and closer to the point where it might be OK to start using it for your retirement planning. Uh, curious for your thoughts, given that betterment is well known as a robo advisor. Yeah, well, I was actually just in DC a few weeks ago, meeting with the heads of financial planning from a bunch of firms, and we were talking about this very issue of AI and not only just retirement planning but uh financial planning in general, and I don'tI would be cautious about using it for personalized financial advice right now. I think where we've seen a lot of adoption and we're seeing a lot of traction is with general financial education. In that case, it's a brilliant tool. It's really powerful, it can be really incredible, uh, but using it for personalized financial advice, I don't think it's quite thereyet, right? And, and, and why is that the case? I mean, I, I, I take it that you've experimented with it and come up with some results that just seem askew. Yeah, we're working on it. We're testing things internally. Uh, we don't use AI for our financial advice currently. Um, we're, we're looking into it like we said, we've seen a lot of promise, um, but it can, it can act a little bit odd when you start to get into some really technical details. Um, the hallucinations are getting better, which is great to see. um LLMs were not do math, and so we're seeing that get a little bit better as well, but still a little bit of concern there. So it's moving incredibly fast. I think we're not far away from it, but we're just not seeing that widespread adoption quite yet. Yeah, it's interesting. I just had a chance to talk to a professor at the Rochester Rochester Institute of Technology. He has degrees in computer science and uh he's all in on having AI do his retirement plan. He asked it to create a Roth IRA conversion timetable and uh and uh I asked him if he was going to take the results to a financial planner for a second opinion, a sounding board, and he said, no, I'm pretty good with this. I feel like it's all about the prompt engineering and, uh, as an engineer, he feels pretty comfortable that what he got is accurate I'dsay that's true, uh, the prompt engineering matters and maybe that's a good thing to dive into because a lot of investors just don't know what to ask it in the first place. They're, you know, whether it's a specific term, you know, adjusted gross income, or, you know, things like that, uh, it can get really complicated when anytime you get the IRS involved, you get all of these and it's such a fast paced environment we're seeing here with, you know, potential tax bills changing, coming very soon as well. So if you are confident in your financial literacy and you know which questions to ask it, then I think it can really empower you. But if not, that's where I would be a little more cautious. Yeah, I'll tell you one story. I've been playing a lot with AI and I input some of Michael Herd from the RAND Corporation's research around spending declines in retirement, howHow spending declines on a real basis 1 to 2% uh per year, and I input that research into AI and I asked it to create a spending plan and then I uh sent the results back to Michael Hurd at the RAND Corporation who then said, wow this is pretty good. This sort of incorporates my research into an actual spending plan. So I felt like if it's good enough for someone from the RAND Corp, it might be good enough for me. That's really interesting. No, that's a good, I love hearing the examples, the anecdotes of how individuals and how advisors are using it. We're, our team of financial advisors is using AI today with clients, just not on the retirement planning calculation side. someday we'll get there. I, I, I agree with you. Um, another recent trend is this notion of, uh, private assets, private credit, private equity, private real estate being incorporated into, uh, either 401k plans in the form of target date funds or managed accounts. I'm curious for your take on that trend. Yeah, well, Betterment's a huge fan of investor choice. Uh, we have a number of model portfolios, we're launching single stocks later in the year. So, uh, I think investor choice is great. Um, you do want to be careful with any type of alternative asset, um, so you know, you don't want to have 50% of your nest egg, maybe say, uh, in, in alts, especially in your 401k, um, but I'm a big fan as long as the transparency is there, um, I, I think it could be a really interesting shift, something that isBrand new. We haven't seen this before atall. Yeah. I mean, if you think about it, we're witnessing a decline in the number of publicly traded stocks, an increase in the number of private companies, the possibility for greater risk adjusted performance. Uh, and yet there are some drawbacks, right, where people have to deal with the illiquidity of private assets and the possibility they may not be able to get their money when they want it. Uh, I'm of the opinion that people need to at least think about this with their eyes wide before they start investing in something that they don't know about. Yeah, I don't think it's a critical piece to financial, you know, retirement success. I think it can be an add-on, of course, if you're doing all of the basic things right. Um, I have been, I've been researching this topic as well, and I think there is some concern from financial advisors around, uh, are retail investors going to be left holding the bag potentially for some of the lower performing uh private assets out there or especially as you mentioned, the lack of liquidity sometimes. How does that work with a target date fund that isHaving periodic drawdowns or, you know, periodic contributions and withdrawals from retirees that maybe don't have that liquidity and how does that, how does that work in the fund itself. So I think it's really interesting. Uh, I'm, I'm for it for from the idea of investor choice, but I think you got to do your due diligence as well, right? Uh, another sort of recent trend is this notion of how political uncertainty is affecting, uh, investors' asset allocations. You've noticed some trends that are worth talking about there. Yeah, our advisors have been having lots of calls with our our clients and we're definitely hearing that pick up, um, just an increase in the number of clients that are referencing political uncertainty, uh or just disagreements politically with that translating into how they're behaving with their money. And so anytime we see that, it does throw up a little bit of a red flag for us as advisors, uh, we can definitely talk through but we're seeing an uptick on investors being nervous, investors may be sitting on a little bit more cash. Overall, our investors have been very well behaved with their retirement portfolio that we're not seeing mass panic or sellouts of their existing nest egg, but we are seeing them hold on to cash for a lot longerthan usual. Yeah, waiting till until thingsGet back to normal, whatever that may be until things get back to normal until the uncertainty decreases, um, which you probably know as well. By the time you wait until things get back to normal, the stock market has largely rebounded, you know, 6 months before that, right, because the stock market is always looking ahead. So, um, when you hear that with clients over and over, it does start to see a it is something that we want to be cautious and, you know, better and we have diversified portfolios, internationals performed better than US year today, we automatically rebalance, we tax the services. I think we've harvested $60 million in trades for clients right now. So as long as the clients are doing the things think will lead to their long term financial success, then we can have that discussion of, OK, let's keep up the good savings habits. Are you comfortable maybe with dollar cost averaging instead of investing in a lump sum? We can work with them from a behavioral side because even though if we know what's right on the math side, I've seen a lot of themselves, shoot themselves in the foot, when even if it makes sense, you know, all the data, all the literature, all the math says this is right, if you're not comfortable with it, then you can end up causing a lot of problems. So yeah, we're big on the behavioral finance side, but we're trying to tell clients, hey, stay the course, we're doing all the right things, don't let the the politics influence your retirement are the, that's the advice that we're giving at themoment. So years ago I used to work at a uh a research company called Dalbar where we had uh created something called the Investor Behavior analysis Qua we called it, and we looked at how the average uh uh investor performed relative to a buy and hold strategy and at the time we, we, uh, uh, we found that average investors were buying and selling at the wrong time and that had you been a buy and hold investor, you would have far outperformed the average was in the post 1987 era. Uh, and it seems to me that investors have learned through various crashes, 2000, for instance, or the, the COVID era crashes, that buy and hold is the thing to do. Um, have you noticed that, or, or is this recent, this notion of let me go to cash to wait until the uncertainty is over? Yeah, well, I think there's a number of things going on there. Betterman does have a really competitive cash account, so they're kind of looking at this and saying,Well, if I am nervous, I'm getting a decent interest rate on my cash. This doesn't seem like that bad of an option, you know, tell me why, tell me why, Nick, or whatever advisor they're speaking with, that doesn't make sense. And so I think now there's a lot maybe better alternatives than there used to be in the past for uh for sitting on the sidelines a little bit, at least you're earning something. Uh, interest rates are a little bit higher than they have been over the past, you know, decade or so. So uh I don't think it's totally irrational by any means for them to say, well, I'm not seeing the risk reward tradeoff being but in general, our investors are still, still doing the buy and hold. It's just maybe going in the new deposits is where it's coming in a little bit more intocash. Yeah, I mean, we are living in a different time where the nominal yield is lower than the right that you're getting a real return on your money just by sitting in cash right now. Yeah, and just another idea there, one thing that we found that is really resonated with retirement investors is if you are nervous to dump new money into the stock market right now, cash is one good option. But what about just taking the money that you would be saving on a monthly basis and using it to pay down debt, you know, the average mortgage rates something like almost 7%.That right now people have debt. You've seen all the stats on, you know, whether it's credit cards or not. So um that can sometimes be another really great alternative if you're nervous about the market. Don't stop your good savings habits, just maybe temporarily redirect it towards paying down some debt instead. That can still leave you coming off ahead in the future. Yeah. So you have mentioned something called top-heavy savings plans where people are saving well for also feeling uh broke in the, in terms of uh living. What what are those folks todo? Yeah, it's something we see really often, unfortunately, where, you know, people are told, hey, compound interest, start saving for retirement when you're young, and I don't disagree with all of that. That is all great advice, but I would say maybe it's incomplete advice, uh, and what we see a lot of times is maybe these uh 30, 40 year olds who are right in what we call the messy middle, right? They've, they'reThey just bought a house and maybe their housing costs increased, they're paying for daycare, they're trying to save for their kids' college, they're trying to pay down student loans. They're trying to do all of these other things. And meanwhile, they've done a great job at, you know, saving 5, 10% into their 401k, but that money is not accessible to them right now, and they have real world financial strain today, and they're looking at this and they're saying, well, why do I feelBroke, Nick. Like I've, I'm doing a good job saving. I'm doing all the things that you hear that, you know, my parents told me that financial advisors say, what's wrong with my plan? And I say, hey, you are correct, you're doing a great job saving, but you're not saving necessarily in the right priority order for the situation that you're finding yourself in at the moment. And so, oftentimes what we'll do, you know, of course, you want to try to say,If you have an employer match, at least try to contribute enough to get the match, we'll run the retirement plan, but oftentimes we'll pivot and we'll redirect some of their savings to more short term or mid-term needs like a 529 for college, um, like, you know, other emergency funds, debt payoff, and that could just bring the sense of relief to these people who are, you know, they have good incomes. The, the clients that my team talks have an average income of something like $250,000 that's household income. So they're doing great by all stretches of the imagination when you compare it to, you know, the average American investor, but they don't feel that way because their money is, it's locked up for retirement, which again, it's not a bad thing, but it just doesn't, it's not a balanced approach to their financial plan. Yeah, Nick, we have to take a short break and when we come back, I want to talk about something called the Roth conversion window. Don't go back to Decoding Retirement. I'm talking to Nick Coleman. He is the director of financial planning at Betterment. Nick, I, when we took a break, I promised that we would talk about the Roth conversion window, but the first thing I want to talk about young people are often told to invest aggressively when they're young, right? This is sort of what we were taught when we were taking the CFP classes and this notion of life cycle finance is that you, when you're younger, you can withstand the ups and downs of the market. Your biggest asset is human capital, your smallest asset might be financial capital, and so you can afford to put 80% of your money into the stock market and 20% in cash or bonds, but you have a different thought on that? Yeah, again, I, I don't think it's bad advice, it's just incomplete advice. So it's, it's what we believe in, it's what we recommend to clients for retirement savings or for anything long term, you're talking 2030, 40 years out, depending on how old you but for example, we were working with a client who was trying to save up to buy a house this year, and luckily we had gone, we told them to take that money that was invested 100% in the stock market and say, hey, you're looking at buying a house, you need this money soon in the next few months, go to cash with that. And at first they were a little bit, you know, they pushed back a little bit. We told them to do it, and they actually called us afterwards said, hey, we closed on a gosh that you told us to to get out of the stock market given the recent volatility that we've seen. So, long term, long term financial goals, it's great to invest aggressively, but short term to mid-term goals, you need to start dialing back that risk. Otherwise, you can find yourself in a situation where you need this money now and the stock market happens to be down 15%. That's what we're trying to avoid. So when you're young, you've got a lot of competing goals, building an emergency fund, that should not be aggressively, saving for a house not should not be invested aggressively if you're looking for, you know, only a few years out. So that's what I mean by by not all investors should put 100% of their investments into long-term aggressiveinvestments. Yeah, it sounds like what you talk about, Nick, is what has been referred to as goals-based investing where what you're doing is tying the asset to the goal and the time horizon and not necessarily just having one big bucket of money aimed at all your multiple goals. Exactly. We're huge fans of goals-based investing and betterment. Our entire UX is shaped around asking clients, what are your different goals we allow clients to input the name of their goal, the time horizon, and then set up automatic savings for it. And by default, we will recommend a portfolio with an appropriate risk level for your goals time horizon. So huge fan, I, I couldn't say more what you just saidthere. Uh, I want to talk about, uh, a lot of people have described this period of time asUh, a good time for Roth conversions where we're experiencing, uh, low tax rates, uh, volatile markets that may provide opportunities to do Roth conversions. Uh, talk a little bit about, you know, the perfect window for these conversions. Yeah, we're seeing a lot of success talking about this topic with clients right now because as we've talked about, there's a lot of volatility, and oftentimes investors feel they need to do so if we can redirect that energy from, you know, adjusting your portfolio into something that is actually potentially productive, whether that's a Roth conversion or something else, that can be a big win from a behavioral and a mathematical standpoint. So we're seeing a lot of clients that there's really this finite window that we, we call the Roth conversion window where maybe you were the average retirement age is nationwide. So if you retire at 62, um, you know, you haven't started Medicare yet, so those IRA charges, IRA surcharges aren't a thing. Um, RMDs haven't kicked in. Maybe you're not claiming Social Security yet. You have a window where you are maybe temporarily in the lowest tax bracket that you might ever be in for the rest of your life, right? And so that is a really unique opportunity to execute some rough a lot of clients, it might just be, you know, to the top of the 12% tax bracket. Of course, it'll depend on your situation, but really being able to look at this and say, OK, now let's do some Roth conversions. We'll, we'll manage your tax bracket, especially if you can pay the taxes from the Roth conversion with some brokerage money or some, you know, paying it from a separate account. That can be really, really powerful and it's a great way for you to really highlight the value ofFinancial planning or show the increase of their retirement success, despite all of the ups and downs that we've seen recently. Right at the top of the show, I mentioned the professor from RIT doing the rough IRA conversion table. The notion is that it doesn't have to be full conversions. It could be full or partial or different amounts of partial conversions as you think about like bumping yourself up to the next higher tax bracket before you uh. I would agree with that. Most of the time, it would not make sense to convert your entire 401k balance in one year, for example. That's gonna, you're trying to do some tax savings, but you're actually being counterproductive because when you do that Roth conversion, it's all gonna be counted as taxable income and you could find yourself actually bumping higher tax brackets than you otherwise would be. So partial Roth conversions are by and large the way to go there. That's what, that's what we tell our clients. Yeah. And, and there was a time when we're right now we're in the middle of this debate around the Republican one big beautiful the tax cuts and Jobs Act, tax cuts may be extended. And so at one point before this happened, people were saying this is the year in which to do Roth conversions because tax brackets may rise from here, but it looks like the possibility exists that you'll have more time than you thought otherwise. Is that fair to say? Yeah, I would agree with that. Um, really what it comes down to though is like, it's why it's important to revisit these things because tax brackets are always going to be changing. So maybe you don't need to be quite as aggressive now, but it doesn't mean the Roth conversions still aren't a good idea. Yeah, um, all right, I'm gonna return to our professor of engineering at RIT. Uh, you have said in the past that one ought to think like an engineer. What does that mean? Yeah, this is one of my favorite stories to tell. I, you know, when I first came to Betterment, I was leaving the more traditional financial planning arena, working for a company that had more engineers than financial advisors, which is a paradigm shift from what I was used to. Uh, and I remember my boss at the time, Alex Behki, asking me some questions about, hey, we're trying to figure out how do we help clients at scale, prioritize which type of sense for them in which order. So 401k versus IRA Rock versus traditional, throwing an HSA in there. These are some of the most common questions that we get from clients, because there's so much choice, they all have different rules, contribution limits. Uh, it's a tough problem and it's a common problem for our clients. And I was like, oh, well, it depends, right? And I laughed the answer to everything in financial planning, it depends, needless to say, my boss wasn't a big fan of that answer. He goes, it depends on what? Identify the inputs, tell me what it depends on, and then we can build an algorithm that can solve that. And I was like, oh, that was kind of a a light bulb moment that has impacted how I work with clients and how we shape the financial advice that we give our clients, um, and it, it's something that I think a lot of financial advisors can fall back, uh, fall back on and saying, oh, Mr. and Mrs client, your situation is so unique, it depends, you can't solve it to me. And uh I've never been a fan of that. If you can identify what the inputs are, what the calculation should be, and then what the output should be, then that can help demystify some of the advice and help give you more consistent advice on a regular basis as well. Yeah. So to me, one of the most important inputs is how long do you expect to live and I always tell people, if you could tell me your exact date of death as your input, I could build you a bulletproof retirement there's always, yeah, we by default, we assume age 90 for clients, which is it, that's conservative, right? You look at its average is mid 80s, a little bit longer for women than men, um, but by default, we recommend just starting a little bit conservative because the last thing you want to do in your retirement plan is running out of money just because your assumptions were wrong. So, uh, I, I agree with that. It's, it's a hard variable to to figure out because no one knows it, but it's a really important variable aswell. have spoken in the past to David Blanchett, who says age 95 as a default, but on the other hand, says go use the longevity illustrator as a way to maybe pinpoint more accurately what your longevity would be, as opposed to sort of picking a default, curious for your thoughts there. Yeah, I'd say for a lot of our clients, they've never built a financial plan before. The majority of them have never worked with an advisor, and so, um, having a an easy smart default in there that's a little bit on the conservative side makes a ton of sense for the clientele that we're working with, but we still, of course, when we're onboarding you as a new mentioned that and we say, hey, based on family history or health or, you know, whatever reasons, um, we can't adjust this input, and it's really easy to run what if scenarios until we're blue in the face just to make sure you feel good about the plan that we're building. And so I agree with that. Have a good default assumption, but of course it should be personalized ontop of that, right? Nick, uh, 23 minutes goes by in the blink of an eye. I want to thank you for uh being on the show and sharing your knowledge and wisdom with us. Appreciate it. Thanks for having me, Bob. It was great to be here. All right, so that wraps up this episode of Decoding retirement. We hope we provided you with some actual advice to help you plan for or live in retirement and don't forget you can listen to us on all your favorite podcast platforms. And if you have questions about retirement, email me at YF podcast@yahoo This content was not intended to be financial advice and should not be used as a substitute for professional financial services. Sign in to access your portfolio
Yahoo
25-03-2025
- Business
- Yahoo
Using the 'debt avalanche' to optimize your debt pay-off strategy
According to a 2025 credit card survey from 1 in 3 American rely on credit cards to make ends meet, with 32% having maxed out their credit cards. Nick Holeman, Betterment director of financial planning, joins Wealth to break down some ways to pay off your debt and spring clean your finances. To watch more expert insights and analysis on the latest market action, check out more Wealth here. Sign in to access your portfolio
